Dimensional Fund Advisors LP boosted its stake in Impax Laboratories Inc. (NASDAQ:IPXL) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,637,942 shares of the specialty pharmaceutical company’s stock after buying an additional 85,854 shares during the period. Dimensional Fund Advisors LP owned approximately 2.31% of Impax Laboratories worth $47,207,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in IPXL. Systematic Financial Management LP purchased a new position in shares of Impax Laboratories during the second quarter valued at about $1,749,000. Acrospire Investment Management LLC raised its position in shares of Impax Laboratories by 198.5% in the second quarter. Acrospire Investment Management LLC now owns 3,910 shares of the specialty pharmaceutical company’s stock valued at $113,000 after buying an additional 2,600 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Impax Laboratories by 5.2% in the second quarter. Teacher Retirement System of Texas now owns 8,615 shares of the specialty pharmaceutical company’s stock valued at $248,000 after buying an additional 424 shares in the last quarter. SECOR Capital Advisors LP purchased a new position in shares of Impax Laboratories during the second quarter valued at about $1,017,000. Finally, Victory Capital Management Inc. raised its position in shares of Impax Laboratories by 9.9% in the second quarter. Victory Capital Management Inc. now owns 1,021,648 shares of the specialty pharmaceutical company’s stock valued at $29,445,000 after buying an additional 91,958 shares in the last quarter. 88.17% of the stock is owned by hedge funds and other institutional investors.
Impax Laboratories Inc. (NASDAQ:IPXL) opened at 22.91 on Wednesday. Impax Laboratories Inc. has a 12 month low of $20.97 and a 12 month high of $45.00. The firm has a market capitalization of $1.63 billion, a P/E ratio of 48.54 and a beta of 1.21. The stock’s 50 day moving average price is $24.64 and its 200-day moving average price is $29.50.
Impax Laboratories (NASDAQ:IPXL) last issued its quarterly earnings data on Tuesday, August 9th. The specialty pharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.11. Impax Laboratories had a return on equity of 11.30% and a net margin of 3.78%. The business had revenue of $173 million for the quarter, compared to analysts’ expectations of $223.67 million. During the same period in the previous year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. Equities analysts forecast that Impax Laboratories Inc. will post $1.59 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Goldman Sachs Group Inc. raised Impax Laboratories from a “sell” rating to a “neutral” rating and increased their target price for the stock from $25.00 to $26.00 in a research report on Tuesday, September 27th. Northland Securities upgraded Impax Laboratories from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, August 15th. Piper Jaffray Cos. restated an “overweight” rating and issued a $32.00 price target (down previously from $40.00) on shares of Impax Laboratories in a research note on Saturday, August 13th. Zacks Investment Research downgraded Impax Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $30.00 price target (down previously from $35.00) on shares of Impax Laboratories in a research note on Thursday, August 11th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Impax Laboratories currently has a consensus rating of “Hold” and an average price target of $33.43.
In other Impax Laboratories news, Director Leslie Z. Benet sold 10,092 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $22.81, for a total transaction of $230,198.52. Following the transaction, the director now directly owns 40,225 shares of the company’s stock, valued at approximately $917,532.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.30% of the company’s stock.
Impax Laboratories Company Profile
Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), as well as the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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